Business Asia articles from July 1999

Business Asia archives from July 1999

Manila turns to food belt.(Philippines)
July 5, 1999... Agriculture drives economy President Joseph Estrada is taking the Philippines back to grassroots in its quest for sustainable growth by rejuvenating the nation's embattled agriculture industry. The introduction of a "corporate farming"...

APEC stalls on trade liberalisation pact.(Asia-Pacific Economic Cooperation)
July 5, 1999... Hopes are fading of swift action on an Asia-Pacific pact to fast-track trade liberalisation after a meeting of senior officials failed to reach agreement on a key APEC package. As Business Asia went to press, Asia-Pacific Economic...

Finance chiefs target New York, the world.
July 5, 1999... The time is right for Australia to shed its image of being rooted in the '70s and '80s and become a world financial centre, Australia's finance industry leaders claim. The business leaders, headed by Prime Minister Mr John Howard and...

World Bank tells China to increase its spending.
July 5, 1999... China must boost consumer spending and domestic demand while restructuring its financial system and state-owned assets to ensure sustained economic growth, a World Bank report has found. The recent World Bank economic assessment said...

Shoppers still tight-fisted.(Asia)
July 5, 1999... Asia's battered economies have begun to see light at the end of the tunnel, but consumer confidence will not recover fully for at least two years, economists claim. "This is a question of years and not months," said Mr Ron Leven, head of...

Rupiah on a roll, but not economy.
July 5, 1999... Indonesia's financial markets are on a roll. The economy, despite some cheering economic indicators, is not. Economists worry the latest investor exuberance could do more harm than good by encouraging complacency in the government. ...

Corporate Affairs.
July 5, 1999... Listed companies and their worth in Asia-Pacific markets. Listed Market Companies Capitalisation US$ milion Australia 1162 874,283 China 853 231,322 Hong Kong 658 343,394 India 5860 ...

Asia fact file.(elderly and children demographics)
July 5, 1999... Lean on me This edition's Fact File examines dependency ratios in Asia-Pacific nations. A dependency ratio is defined as the combined population of people aged between 0-14 and over 65 expressed as a percentage of the population aged...

Asian chemicals take a bath.(chemical industry economic status)
July 5, 1999... Asian economies are recovering, but some sectors -- including the chemicals industry -- still face many barriers. A new McKinsey report paints a less-than-rosy picture In the past two years, the Asian financial storm has systematically...

Bargain hunt by West no formality McKinsey.(investment opportunities in Asia)
July 5, 1999... Assuming the crisis in Asia's chemical industry is a golden opportunity to buy assets at bargain prices is a "dangerous oversimplification", according to the authors of a new McKinsey study on the chemicals sector. While they agree that...

In Brief.(Asian economic news)
July 5, 1999... * Manila -- The Philippines Government has agreed to implement an open skies policy in line with market demands, but says current air agreements can handle a doubling of tourist arrivals within five years. Early this month, the government said...

Mahathir in mood for polls.(Malaysian Prime Minister Mahathir Mohamed)
July 5, 1999... Malaysia has all but closed the door on its deepest recession in decades and embarked on the path to economic recovery just as the government contemplates general elections. Economists agree with the government that the recession ran its...

Japan denies exploiting yen.
July 5, 1999... Is Tokyo driving down the value of the yen to improve the nation's export trade? Opinions differs, as GEORGE NISHIYAMA reports from Tokyo Japan has played down speculation it is using a weaker yen as a trade tool, saying its intervention...

Obuchi stocks on the rise.
July 5, 1999... The approval rate for Japanese Prime Minister Mr Keizo Obuchi has risen on the back of positive economic data, climbing to a record high of nearly 50 per cent. A survey by the Japanese newspaper Yomiuri Shimbun found that 49.8 per cent of...

Improving retail store sales reflects optimism in Tokyo.
July 5, 1999... Sales at Japan's large retail stores rose last month as shoppers bought more clothes, furniture and appliances at department stores, a government report shows. Department and general merchandise store sales rose 0.5 per cent, seasonally...

Growth still elusive: EPA.
July 5, 1999... Slower investment and a decline in growth will hold back Asia's growth over the next decade even as the region recovers from its economic crisis, according to Japan's Economic Planning Agency (EPA). Asian economies are on track for a...

Firms using the Internet to cut costs.
July 5, 1999... Japanese financial firms are waking up to the Internet as a tool to cut costs and save time. Mr Timothy McCarthy, founder and chief executive of Advisortech, a Web-based provider of back-office systems, said interest from financial...

NT Expo gets vital support from Jakarta.
July 5, 1999... A late rush of Indonesian exhibitors -- defying the nation's economic crisis and political uncertainty -- is a surprise windfall for organisers of NT Expo this year in Darwin. Fifteen Indonesian companies have confirmed their participation...

Port thrives as cattle trade picks up.
July 5, 1999... The Port of Darwin has successfully hitched a ride on the back of resurgent exports into Asia's live cattle industry, establishing new markets to Vietnam and the Middle East, The port's new-found markets have helped consolidate its...

Burke grows into seat of power.
July 5, 1999... Now settled into the job he assumed in February, new Northern Territory Chief Minister Denis Burke speaks to CAMERON COOPER about Darwin's policy approach to Asia Leaving an imprint on the Northern Territory's Asia strategy was a priority...

Rail funds shortfall can be solved: NT.
July 5, 1999... The long-awaited Alice Springs to Darwin rail link is likely to proceed despite an apparent shortage of funds, according to Northern Territory Chief Minister Mr Denis Burke. Last month, the Asia Pacific Transport Consortium was selected by...

Darwin keeps fires burning in Asia.
July 5, 1999... A new Chief Minister, sweeping departmental changes and the small matter of Asia's regional economic crisis have changed the face of the Northern Territory's engagement with the region. Former leader Mr Shane Stone is now out of the...

All well on home front as Asia turns off gas.
July 5, 1999... Oil and gas initiatives are central to business development plans in the Northern Territory. Despite sluggish Asian gas markets, the prospects look bright for Australian projects. Falling demand for natural gas in Asia has forced the...

LNG talks in Japan good news for Shell.
July 5, 1999... The outlook for the liquefied natural gas (LNG) market in Japan is starting to improve, according to Shell Development Australia chairman Mr Roland Williams. A recent visit to Japan is at the heart of Shell's renewed optimism in the...

Trade zone seminar.
July 5, 1999... Increasing awareness about growth in the BIMP-EAGA trade zone will be the focus of a special conference in Darwin in October. The NT/BIMP-EAGA Finance and Investment conference will be held from October 27-28 and is being presented by the...

Asians take a punt on Centrebet.
July 5, 1999... An on-line betting agency in the red centre is fast becoming a global entertainment force. JOHN SHAW reports that Asian gamblers are plugged into the business Exporting can be a risky business -- which is exactly why an Alice Springs...

Burke unveils new website.
July 5, 1999... The Northern Territory has unleashed its latest weapon to attract interest and investment from Asia and Australia -- a newly revamped government website. Chief Minister Mr Denis Burke launched the new face of the Northern Territory...

Construction work on rise.
July 5, 1999... The construction sector in South East Asia is showing the first signs of recovery in two years on the back of regional economic growth. Increased government expenditure on construction and an upsurge in the global electronics industry is...

Armoured cars a shot in arm for Thai trader.
July 5, 1999... It's an ill wind that blows nobody any good. A Thai entrepreneur who sells protection to those who really need it says his business of armour-plating vehicles has been booming amid Thailand's worst recession in decades. Mr Preecha...

Bluefire inks $10m LPG deal.
July 5, 1999... Sydney-based Bluefire Gas Ltd is set to capture Indonesia's automotive LPG market through a US$10 million investment to install liquefied petroleum gas (LPG) dispensers in Jakarta -- the first step in accessing the archipelago's service...

India to erase insurance barriers.
July 5, 1999... * New Delhi -- Indian Industry Minister Mr Sikander Bakht has pledged to push for India's insurance markets to be further opened, saying current proposals are too limited. Mr Bakht said a government proposal in March to allow foreigners and...

No easy answer to poll riddle.
July 5, 1999... Fallout from Indonesia's recent election campaign is likely to strike Jakarta's neighbours. KEVIN RUDD(*) suggests that Australia will not be spared There is no more important relationship to Australia than the Australian-Indonesian...

Life's tough, but ADB report says Thais faring admirably.
July 5, 1999... Thailand has scraped through the region's financial crisis with fewer wounds than expected, with a new Asian Development Bank report finding the crisis has at worst returned most Thais to 1996 levels of income and welfare. The report,...

Shares go through the roof.
July 19, 1999... Market experts say Asian share prices are over-inflated and headed for a correction -- but the region's retail investors do not appear to be listening. "There has got to be a massive correction out there. There has to be. But the trick is,...

... but Howard's stocks are mixed.
July 19, 1999... He talked tough, but will Australian Prime Minister John Howard's visit this month to Japan deliver free-trade benefits? Mr Howard's trip appears to have been successful in terms of the overall relationship between Australia and Japan. ...

Asia gets high share of new luxury hotels.
July 19, 1999... The surprisingly high rate of new luxury hotels that are opening across Asia can be attributed to the lag effect of the region's economic downturn, according to an industry expert. Sonnenblick-Goldman managing director for the Asia-Pacific...

APEC ups ante on free trade.(Asia-Pacific Economic Cooperation)
July 19, 1999... Trade leaders from the 21 Asia Pacific Economic Cooperation (APEC) nations will push for free trade in all products at the next World Trade Organisation (WTO) meeting to be held this November, The move will put pressure on other world...

Internet sales on the rise.
July 19, 1999... One-third of Asians will have access to the Internet and more than half of those will buy products on-line by the end of 2000, a MasterCard International executive says. Mr Jonathon Gould, Mastercard senior vice-president for marketing,...

Equity finance rebounds.
July 19, 1999... Equity financing is regaining popularity in Japan after a decade in the doldrums, revived by rallying Tokyo stocks and a healthy foreign appetite for convertible bonds, analysts say. In the first six months of this year, Japanese firms...

On the move.(Statistical Data Included)
July 19, 1999... This editions Fact File lists the net migration rates for countries in the Asia-Pacific region. (Per 1000 people) AUSTRALIA 2.69 CHINA 0.41 HONG KONG 15.41 INDIA 0.08 INDONESIA 0 JAPAN 0.36 ...

China India still in favour.(travel)
July 19, 1999... Investors not put off by crisis China and India still rank among the top five destinations for foreign direct investment (FDI) - a clear sign that they appeal to investors despite Asia's economic crisis. A new AT Kearney study of FDI...

'Net gains as Asia chases high technology.
July 19, 1999... Asia's technological infrastructure will be on a par with Europe and the United States within five years, sparking a huge boom in Internet and e-commerce activities, according to a Federal Express official. Mr David Smith, FedEx Asia...

In brief.
July 19, 1999... * Sydney - The Commonwealth Bank has become the first Australian bank to obtain a full Japanese securities registration. The registration strengthens the bank's ability to offer Japanese investors access to the Australian and New Zealand bond...

World Bank probes use of funds.
July 19, 1999... The World Bank's newly formed anti-corruption taskforce for East Asia is set to face a baptism of fire. One of its first tasks is likely to be examining whether World Bank funds were inappropriately used during the Indonesian elections. ...

Critics vocal in Tung-tied Hong Kong.(Tung Chee Hwa)
July 19, 1999... Nobody said it was going to be easy. On the other hand, few people foresaw the magnitude of the problems that have beset Hong Kong in the two years since it passed from British colonial to Chinese communist rule on July 1, 1997. The...

Anti-dumping law fails to impress.
July 19, 1999... New legislation aimed at protecting Australia from Chinese dumping will result in administrative difficulties for Customs and needs to be further clarified, a leading commercial law firm says. Freehill, Hollingdale and Page, in its latest...

Manila targets call centres.
July 19, 1999... The Philippines is the "bolter" in the pack of countries trying to get a piece of the burgeoning call-centre market, according to an industry research expert. Mr Martin Conboy, managing director of Call Centre Research, an Australian-based...

India in the wars, but economy rallies.
July 19, 1999... India's economy has been hearing some good news lately. Gun smoke from Kashmir unrest and looming elections has partly obscured India's improving fortunes, but a series of data shows an economy in active recovery mode after a three-year...

HK shippers fight against high fees.(Hong Kong)
July 19, 1999... Unrest is growing over high handling fees at ports in Hong Kong. Some say the price to pay will be the territory's recovery. Hong Kong exporters and importers have called for lower terminal handling charges (THCs), saying they threaten the...

Conferences gain support.
July 19, 1999... Shipping "conferences" -- or industry alliances -- have been given the nod by the Australian Productivity Commission, which has found that conferences help exporters. In industry parlance, conferences refer to groupings of liner shipping...

Wharf cruising for a windfall.
July 19, 1999... The Sydney Ports Corporation is preparing for a marked increase in its cruise ship customers on the back of a new international terminal at Darling Harbour. The terminal, which opens this month, is expected to reap substantial economic...

Naval port likely to take in commercial ships.
July 19, 1999... China is expected to open one of its leading military ports, Huludao, in north-eastern China's Liaoning Province, to international commercial shipping later this year. Located on the Bohai Rim, Huludao ranks as an important port for the...

US, Beijing on the brink of ship fight.
July 19, 1999... The United States and China are set for a showdown over shipping regulations. The Federal Maritime Commission (FMC) in the US has instructed its lawyers to prepare sanctions against Chinese maritime companies in retaliation for supposed...

Brisbane builds image as major vehicle port.
July 19, 1999... The Port of Brisbane has consolidated its position as one of the premier Australian vehicle ports following the decision by Melbourne-based Fleet Fit to establish a new facility at Fisherman Islands. Fleet Fit, which imports and...

Peraldini plans a quiet revolution.(port developer John Peraldini)
July 19, 1999... John Peraldini is an unlikely revolutionary -- compared with his confrontational peers in the east. EVELYN DUFFY reports on the man shaking up Western Australia's ports. The man heading up Australia's newest private port development, Mr...

Malaysian firm seeks new vessels from Japan.
July 19, 1999... Global Maritime Ventures (GMV) in Malaysia is finalising negotiations to acquire new vessels from a Japanese company. Chairman Mr Ahmad Sufian Abdul Rashid said the negotiations, which were being handled by one of its subsidiaries, were...

Sole tender for Mumbai port.
July 19, 1999... A plan by Mumbai Port Trust (MPT) to privatise its container terminal operation has received a solitary bid. The bid comes from a consortium of Kelang Port Authority (Malaysia), Shreyas Shipping and Girenji Consultants. MPT is...

Waterfront efficacy up in Australia.(Statistical Data Included)
July 19, 1999... March quarter figures just released by the Bureau of Transport Economics show that Australia's waterfront productivity reached an all-time high in the first three months of the year on the back of a turnaround in Sydney ports. The five...

Australian ships' share of cargo pie diminishes.
July 19, 1999... Australia's coastal shipping sector is being exposed to growing levels of foreign competition. Bureau of Transport Economics (BTE) figures show that foreign ships now carry 10 per cent of the nation's coastal shipping freight, a four-fold...

Proton strives to become `niche'.
July 19, 1999... In Australia, Malaysia's Proton is taking on foreign car producers such as Hyundai and Daewoo. RANDOLPH RAMSAY reports on the tough road ahead When Malaysia's national car maker Perusahaan Otomobil Nasional, or Proton, first entered the...

Australian hotels now await readers' choice.
July 19, 1999... * In the lead-up to the Best Business Hotels in Asia Awards presentation on October 25, Business Asia will briefly profile finalists from each country. In this edition we look at the Australian finalists. Votes can be registered on the coupon...

Warning bells as big telecom project falters.
July 19, 1999... A decision by British telecoms giant Cable & Wireless (C&W) to pull out of a US$207 million deal in Vietnam has sounded warning bells for other foreign firms battling dimming economic prospects. Observers claim foreign telecom firms have...

Hopes rise for ad break.
July 19, 1999... Foreign advertising executives have given a cautious thumbs-up to signs that Vietnam may open its restricted advertising sector to foreigners. However, they said they first wanted to know what conditions would be applied to the...

Unrest over new labour law.
July 19, 1999... Vietnam has issued a new decree on the employment of Vietnamese workers at foreign firms, but it bears close resemblance to earlier regulations which upset foreign investors. Decree 46 makes slight changes to Decree 85, a regulation foreign...

Agribusiness sales push on website.
July 19, 1999... Quality Food Australia (QFA) has launched a new website in its latest effort to promote Australia's top agribusinesses. The new website will feature details, links and contacts for QFA's registered businesses, all of which have had to pass...

Beef exports start to surge.
July 19, 1999... Cost advantages are contributing to rising Australian beef exports in most Asian countries as consumption increases, according to Meat and Livestock Australia (MLA). MLA, the producer-owned company responsible for research, development and...

Organic meat hits the spot.
July 19, 1999... A group of Australian beef exporters is starting to make headway in the lucrative Japanese organic meat market, with a recently established supply chain forecasting sales of A$6 million this financial year. OBE Pty Ltd, the company behind...

Cool idea to aid fruit sector.
July 19, 1999... An innovative research project aimed at improving the quality of Australian fresh fruit exports into Asia could help Australia gain a competitive edge over New Zealand, South Africa and the United States. Dr Nevin Amos, head of the...

Japan gets fuji apples.
July 19, 1999... Japanese consumers received their first taste of Tasmanian fuji apples last month when shipments arrived for distribution in supermarkets. Senator Judith Troeth, Parliamentary Secretary for Agriculture, Fisheries and Forestry, said for...

Brewers go against grain.
July 19, 1999... Can you imagine the Japanese selling Vegemite to Australia? Not likely, you say. Well, Australia is poised to pull off a cultural equivalent: selling our sake to the Japanese. A group of Japanese sake (rice wine) producers toured...

New program aids food, fibre exports.
July 19, 1999... Australia's latest push to boost exports into Asia started this month when newly appointed directors of the Food and Fibre Chains Program met for the first time to brainstorm over new ideas. Outgoing Agriculture, Fisheries and Forestry...

Beijing wants to boost growth, foreign funds.
July 19, 1999... * Beijing -- China plans to tune up its macro-economic policy and provide more fiscal support to spur economic growth, according to Finance Minister Mr Xiang Huaicheng. He said the government would pursue a more active fiscal policy in the...

China-WTO alliance crucial for insurers.
July 19, 1999... When NATO missiles slammed into the Chinese embassy in Belgrade, it was one risk that caught foreign insurance companies in China unprepared. The incident threw into question China's talks with the United States on its entry to the World...

Hands off, says Dr M.
July 19, 1999... Malaysia's Prime Minister Dr Mahathir Mohamad says the government will not let privatised companies fall into foreign hands as this could undermine the country. The Malaysian leader said charges of nepotism and cronyism had been levelled...

Posco puts steel back into Asia.
July 19, 1999... Korea's Pohang Iron and Steel Co, the world's biggest steelmaker, is turning back to Asia and away from the United States as the region's economies emerge from recession. "The US market was like our secret bank deposit -- something you...

Where do you put your money?
July 19, 1999... Fund managers believe Asia will again provide good financial returns in the next year. However, as DAVID STAMP reports, choosing the best markets can be tricky. Ask experts in emerging markets to tip some born-again Asian tigers and one...

Thai media searches soul, investigates its own role.
July 19, 1999... Thailand's economic meltdown two years ago triggered society-wide soul-searching, not least in a news media proud of a reputation as one of the freest in Asia. News organisations not only failed to foresee the extent of the crisis, but...